Solved: Federal reserve-rules for the conduct of monetary policy, Macroeconomics

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Federal reserve-rules for the conduct of monetary policy

Question:

Some economists believe that the Federal Reserve should follow strict rules for the conduct of monetary policy. These rules would require the Fed to make adjustments to interest rates based on information that is fully available to the public, such as the current unemployment rate and the current inflation rate. What are the pros and cons of such an approach?

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Macroeconomics: Federal reserve-rules for the conduct of monetary policy

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